Navy Federal Credit union questions? HELP!!!!!!

[Jerseybound]

AF guy that just applied for a Navy Federal Credit Union Mastercard with my wife as a co-applicant to increase her scores.  Received the message back stating that the will respond in 3-5 business days?  Is this the magical word for denied?

My Credit Scores were 711EQ, 705Trans, 747 EX

Wife credit scores were 669EQ, 672Trans, 680 EX

I already have a Visa with Navy Federal on my own with a 13K CL, but was just wondering if someone out there has run into the same problem.  I really thought that it would be approved over the web like last time, but maybe it takes longer since they need to verify for her since she is on the account now.

Thanks

[haulingthescoreup]

Did you list her as a joint applicant (I hope not) or an authorized user?

If joint, you each have to qualify.

If you applied, listing her as an authorized user, they only have to decide on you. The account would still show on her reports, helping her scores. Authorized user status avoids many of the headaches of jointly-held credit.

Navy's gotten really popular, and many have reported having to wait a while for the decision.

[moondog7324]

I am pretty sure NFCU does not report AU's to credit reporting agencies(at least that is what they told me)

[Anonymous]

1.  No, the 3-5 day message is not automatic denial.  I received this on ALL of my apps and was approved for $25k Visa, $15k LOC and $5k MC.

2.  If you did "joint applicant" on the application, only 1 of you need qualify.  Both will be responsible party for payment and both will have full account access and both will be reported on CR's. 

[haulingthescoreup]

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moondog7324 wrote:
I am pretty sure NFCU does not report AU's to credit reporting agencies(at least that is what they told me)

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Thanks for the correction, moondog. I genuinely can't keep up any more! That does change things a bit.

USAA cracks me up. The CSR told me that they would or wouldn't report an AU, according to cardholder preference. Hard to beat that flexibility.

[Jerseybound]

Ok so I talked to two CSR's and they stated that the reason for the 3-5 is that I am a new member (less than 5 months) and the system picks up on multiple credit applications (We also applied for a new car loan at the same time) to eliminate fraud.  Just a safety precaution.  They did however tell me that the system is not updating credit decision status because they do not have enought personnel working in that department and that if I just call back in about 48hours that the decision would be good to go by then.  So I am going to do some christmas shopping and just hang around and wait.  They are backed up with the loans right now they said.  Usually if you are a returning member with a good history with Navy Fed it will preapprove online the CSR told me.  Just FYI she told me everything looked great that I should be getting a new car loan and Mastercard based off her experience in the business.  So I guess I will wait for them to show me the money.

[MidnightOwl]

Yes Navy does report authorized users to all 3 CRA. I had my son added and he shows up on all 3.

[improvingmycredit]

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@MidnightOwl wrote:

Yes Navy does report authorized users to all 3 CRA. I had my son added and he shows up on all 3.

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Hey MidnightOwl!  

This is a very old thread.  No worries- I'm sure they know by now.

I've opened up quite a few old threads myself before I realized it.  

 edtied: for mistakes